DDIndia Business: Economic Headlines & Updates

Business

July 12, 2024 9:08 PM

India’s foreign exchange reserves hit record high of $657.2 billion

The Reserve Bank of India (RBI) reported on Friday that for the week ending July 5, the nation's forex reserves surged by $5.158 billion, touching an unprecedented $657.155 billion. This figure surpasses the previous record of $655.817 billion set ju...

July 12, 2024 5:55 PM

JP Morgan profit jumps on higher investment banking fees, accounting gain

JPMorgan Chase reported a 25%rise in second-quarter profit on Friday, buoyed by rising investment banking fees and an accounting gain of about $8 billion from a share exchange deal with Visa. Wall Street banks have benefited from a resurgence in cap...

July 12, 2024 6:11 PM

Sensex, Nifty close at all-time highs

Indian stock markets surged to new record highs on Friday, buoyed by a combination of easing US inflation, robust results from Tata Consultancy Services (TCS), and a generally positive market sentiment. The Sensex climbed over 600 points, or 0.8%, to...

July 12, 2024 1:53 PM

Vizhinjam port welcomes first mothership

Adani Ports and SEZ announced on Friday the arrival of the first mothership at Vizhinjam International Seaport in Thiruvananthapuram, India's first deepwater trans-shipment port. The inauguration event was led by the Chief Minister of Kerala, Pinara...

July 12, 2024 11:23 AM

Indian markets open in green on global cues, US inflation shows downward trend

Indian markets opened with a marginal gain on Friday amid positive global cues, with both indices surging during the opening session. The NSE Nifty 50 index opened at 24,379 points with a gain of 64 points, while the BSE Sensex also surged 193 point...

July 12, 2024 8:37 AM

India to become a superpower by 2047, says Financial Times’ top commentator Martin Wolf

Martin Wolf, chief economics Commentator of ‘Financial Times’-one of the top English business newspapers of the world, has estimated India to be a superpower by 2047. In a newspaper column, the London-based economist, Wolf said that with four tim...

July 11, 2024 9:32 PM

Jaishankar urges new energy infusion in BIMSTEC to bolster cooperation

As Foreign Ministers from the BIMSTEC member countries gathered in the national capital for a two-day retreat meeting on Thursday to bolster cooperation among Bay of Bengal countries, External Affairs Minister S Jaishankar said that the discussions w...

July 11, 2024 8:12 PM

”India has successfully, swiftly generated new jobs” says Union Minister Piyush Goyal

Union Minister Piyush Goyal on Thursday praised the Indian government's job creation efforts, citing recent data from the Reserve Bank of India (RBI) that indicates substantial employment growth in the 2023-2024 financial year. According to the RBI ...

July 11, 2024 7:35 PM

Pfizer moves forward with once-daily weight-loss pill

Pfizer plans to move a reworked, once-a-day version of its weight-loss pill danuglipron into clinical trials later this year, the company said on Thursday, after scrapping a twice- daily version of the drug late last year. The new drug is part of th...

July 11, 2024 5:46 PM

Sensex, Nifty end flat amid volatile trading

Indian benchmark indices ended flat on Thursday due to subdued market sentiment. Investors were awaiting the first-quarter results of TCS and factoring in the weekly expiry of Nifty futures and options contracts. The NSE Nifty 50 and the BSE Sensex ...